fishing quota auctions

Andrew Kathindi Government said it will require bidders to prove financial stability in their next round of fishing quota auctions in November after only managing to secure N$8.4 million from an initial N$627.9million worth of bids. Finance Minister Iipumbu Shiimi said that even though most of the successful bidders of the auction, which took place last month, had requested for an extension to settle their dues, most of them did not keep their payment commitments as they were expected to settle their allocations by 2nd September 2020. “In the future, punitive measures will be introduced including requirements for payment guarantees…